Nigeria meets ECOWAS obligation for first time in 19 years
For the first time in 19 years, Nigeria has fully met its financial obligations to the Economic Community of West African States (ECOWAS). The Federal Government paid ₦85 billion and…
Zambia to improve economic management with AFDB’s new loan
The African Development Bank Group has approved a $108 million loan to Zambia to improve the country’s economic management and implement fundamental public sector reforms.The fund will be used to…
Inflation, funding major challenge to start-ups in Africa
Inflation and funding have been identified as some of the major problems facing start-up companies in Africa, especially in Nigeria and Egypt. In a new report by research firm Flourish,…
South Africa records more investment outflows with new government bonds
South Africa experienced foreign direct investment outflows amounting to 3.2 billion rand ($179.87 million) in the third quarter, a significant decline from the inflows of 16.6 billion rand recorded in…
Morocco strengthens Niger ties with new power plant
The Kingdom of Morocco has strengthened its bilateral ties with Niger through the inauguration of the “His Majesty King Mohammed VI” power plant in Niamey. Officially opened on December 12,…
MTN to expand operations with new invesment
MTN Group Chairman and CEO Alph Mupita this week announced a multi-million dollar investment in the telco’s Cameroon operations.Mupita briefed key stakeholders on MTN’s commitment to make a major investment…
Nigeria to expand National Grid by 150MW before year-end
The Minister of Power, Adebayo Adelabu, has announced that Nigeria's national power grid will gain an additional 150 megawatts (MW) before the end of 2024. This expansion stems from the…
Tax increases hampering growth of Kenya’s construction sector
There are concerns that the tax increases in Kenya is hampering the growth of the country's construction industry. This is coming as the price of a bag of cement rose…
Nigeria’s Dangote Refinery makes first PMS export to Cameroon
Dangote Refinery, Africa’s largest oil refinery, has successfully exported its first shipment of Premium Motor Spirit (PMS) to Cameroon. This strategic partnership between Nigeria’s Dangote Refinery and Cameroon’s Neptune Oil…
Tax rebates, debt agreement in focus as IMF Deputy Director visits Kenya
The Deputy Managing Director of the International Monetary Fund, Dr Nigel Clark, is visiting Kenya for the first time since joining the IMF leadership in October. He met with President…
